Denny Rodgers

Thank you, Mr. Chair. Mr. Chair, the committee wishes to consider Tabled Document 275-20(1), 2025-2026 Main Estimates, Department of Finance. Thank you, Mr. Chair.

It's going to be a long day, Mr. Speaker. Thank you. Does the Premier's office have dedicated staff that engage and prioritize Arctic security within the Department of the Executive? Thank you, Mr. Speaker.

Thank you, Mr. Speaker. Mr. Speaker, I'd like to speak today about a large military operation happening in Inuvik in the Beaufort Delta. Of course, Mr. Speaker, I'm talking about Operation Nanook. From February 4th until March 20th, upwards of about 750 military personnel, including a large reserve contingent from Newfoundland and Labrador and New Brunswick, as well as allies from the USA and Belgium, Mr. Speaker, and they're going to have air and ground exercises involving several other countries.

Mr. Speaker, this is a huge, obviously, economic benefit to the community of Inuvik, and the town...

Thank you, Mr. Chair. Mr. Chair, I recommend the chair rise and report progress.

Thank you, Mr. Chair. And I appreciate that. I appreciate the response so, Mr. Chair, I look forward to the outcome of this ten-year review and look forward to having an opportunity to participate through committee with recommendations for that review. Nothing further right now, Mr. Chair. Thank you.

Thank you, Mr. Chair. And is there -- I'm assuming CIBC, being Wood Gundy, would be the manager of the firm managing the portfolio. And is there a specific, then, oversight committee in the Department of Finance that also oversees the fund? Thank you, Mr. Chair.

Thank you, Mr. Chair. Mr. Chair, some of my colleagues have said we've had some briefing notes from -- at the government operations committee on the heritage fund, and we've had some experts come in and kind of compare us to other funds, not only in Canada but from around the world, and certainly to only have a 24 percent equity, while it's -- I understand it's public funds and certainly we want to be fairly risk adverse, but I do think that, you know, from what we've heard that's a fairly low amount to be in equities and likely we could see our fund do a little better if we were to take a...

Thank you, Mr. Chair. Mr. Chair, like my colleague Mr. Morse, I'm referring to information item on page 181 which is the heritage fund and the amount that's in there. And I guess if I could start, Mr. Chair, if the Minister or deputy minister could provide a kind of a makeup of what's in that fund. And when I say makeup, with respect to the investment portfolio itself, equities versus treasury bills, bonds, other banking instruments. Thank you, Mr. Chair.

Thank you, Deputy Premier, and thank you, Mr. Speaker. Mr. Speaker, given the heightened lens on Arctic security and sovereignty, given that Yukon has an Arctic security council now, and I know I believe we were invited to join that possibly -- and I wouldn't recommend we do. I recommend we start our own. So I guess what I'm looking for of the Premier's office is a commitment to report back to committee on those engagements on Arctic security and committing to researching -- setting up our own security council here in the Northwest Territories. Thank you.

Thank you, Mr. Speaker. Mr. Speaker, my questions are for the Premier's office, obviously the executive. And the Premier's away; I'll ask the Deputy Premier.

I'm not sure, Mr. Speaker, what level we are involved with Op Nanook as a government, but I'd like to ask the Deputy Premier if she can provide some information around the details with our ongoing engagement with Ottawa around the military spending in the High Arctic. Thank you, Mr. Speaker.